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France climbs out of recession with surprise second quarter growth

Aug 13, 2009, 7:44 GMT

Paris - France climbed out of recession in the second quarter, the nation's statistical office INSEE said Thursday with the nation's economy expanding by 0.3 per cent in the three months to the end of June. Economists had forecast that the 16-member eurozone's second-biggest economy would contract by 0.2 per cent in the second quarter. Helping to power the French growth rate was a pickup in exports, which rose by 1.0 per cent during the quarter. However, releasing the latest GDP data, the Paris-based statistics office revised down the first-quarter slump in the French economy to a 1.3-per-cent contraction. The statistics office had initially said the French economy shrunk by 1.2 per cent in the first three months of the year.

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